Hedge funds sold tech stocks, bought European markets

Reuters November 20, 2023, 11:00 AM UTC
Significance7.0
Scale8.0
Magnitude7.5
Potential7.0
Novelty6.0
Actionability6.5
Immediacy9.0
Credibility9.5

Global hedge funds sold long positions and exited short bets on technology stocks at the fastest pace in seven months, according to Goldman Sachs. Traders dropped positions on semi-conductor and communications equipment makers, as well as software companies, as S&P 500 stock valuations reached a two-month high. Hedge funds were net sellers of global stocks, particularly in North American and emerging Asian markets, while being net buyers of Europe and developed markets in Asia. U.S. consumer staples and consumer discretionary stocks saw significant selling, while financial, industrial, and health care companies were mostly bought.

Source

Also covered in:

Hi! My name is Vadim.

I built this site because I wanted to have a way to read only important news.

It uses ChatGPT to analyze articles on seven factors and calculate a final significance score from 0 to 10.

See today's rankings on the main page.